Rivian Automotive Inc (NASDAQ:RIVN) shares moved lower as it reported a nearly 23% year-over-year drop in second quarter vehicle deliveries. The electric vehicle company delivered about 10,600 vehicles, down from the year-ago period but marking a 23% increase compared to the approximately 8,600 vehicles delivered in Q1.
Charles Lemonides, ValueWorks founder, joins CNBC's 'Squawk on the Street' to discuss why he sees Rivian as a value pick, why the company may be poised to withstand competition from Chinese EV makers, and more.
Shares of Rivian Automotive Inc. (NASDAQ: RIVN) are down 2.1% over the past five trading sessions, after the electric vehicle (EV) maker announced layoffs and additional financing from Volkswagen.
RIVN trims 140 jobs to sharpen manufacturing efficiency as it preps for its lower-cost R2 SUV launch in 2026.
Shares of Rivian Automotive (NASDAQ:RIVN) were mostly flat over the past five trading sessions, sliding by 0.29%, bringing its one-month loss to 2.55%.
Rivian Automotive (RIVN) closed the most recent trading day at $13.74, moving +1.03% from the previous trading session.
Rivian has laid off around 140 employees, or roughly 1% of its workforce, as it prepares for the launch of its more affordable R2 SUV in 2026, TechCrunch has learned.
RIVN slashes 2025 delivery outlook amid high uncertainty around consumer demand for high-priced vehicles.
Shares of Rivian Automotive Inc. (NASDAQ: RIVN) are up 3.1% over the past five trading sessions, bringing the stock's year-to-date gain to 3.8%.
The latest trading day saw Rivian Automotive (RIVN) settling at $13.81, representing a +1.17% change from its previous close.
Shares of Rivian Automotive (NASDAQ:RIVN) were mostly flat over the past five trading sessions, eking out a gain of 0.02% that has done little to stop its one-month loss which now stands at 11.19%.
Rivian Automotive (RIVN) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).